2024-03-01 12:39:00
Published on: March 01, 2024: 04:39 PM GST Last updated: March 01, 2024: 05:31 PM GST
The owners of the Italian club Milan revealed that they will build a new stadium with a capacity of 70,000 spectators for the seven-time European champion, which will serve as a multi-purpose stadium.
Milan and its neighbor Inter, which uses the famous San Siro stadium owned by local authorities, are studying options to build two separate stadiums of their own on the outskirts of the city.
San Siro
Milan city authorities said last week they still wanted to work with both clubs on a possible upgrade to the San Siro stadium.
Jerry Cardinale, founder and managing partner of Redbird Capital, which acquired the Lombardy club in 2022 in a deal worth 1.2 billion euros ($1.3 billion), said that Italy’s economic capital is the ideal location for holding concerts and entertainment events in addition to building a stadium with international standards.
Cardinale said in statements during the Football Business Summit organized by the Financial Times newspaper in London: We will try to bring the idea of an American stadium and hold live events in Milan.
He continued: Of all the cities in Europe, there is a fusion between sports, music and live events for fans and we believe that Milan will be the ideal place for that and this is what we will seek to do.
He explained: It will be great not only for Milan, but it should be good for Italy and the Italian League. He expressed his hope to create a company capable of building many new stadiums for Italian clubs.
The Italian League has been popular with American investors in recent years, and many are keen to move away from publicly owned stadiums to boost club revenue streams.
The famous Swedish former Milan striker Zlatan Ibrahimovic, who holds a management position at Redbird Capital, said that the time has come for a new beginning for the club.
Ibrahimovic
Ibrahimovic said: Milan does not own San Siro. Everyone wants to have their own playground and run things their way.
He concluded: There are wonderful memories at the San Siro Stadium, but there is always a new beginning, and the new stadium will be important for Milan supporters and players when it is built.
Both Milan and Inter play their home matches at the San Siro Stadium (Giuseppe Meazza), which is owned by the municipality.
In early February, Milan completed the purchase of a plot of land in the suburb of San Donato Milanese (south-east), 15 kilometers from its current stadium.
Inter is focusing its attention on Rozzano and Assago, south of the Lombard city, and must decide by April 30 to purchase the land that is scheduled to accommodate its new stadium with a capacity of 70,000 spectators, in addition to a museum and several sports stadiums.
The huge concrete stadium is a historic theater hosting 80,000 spectators. It was built in 1926 but does not meet the requirements of the two clubs, although it was modernized for the 1990 World Cup. In 2026, it will host the opening ceremony of the Winter Olympics in Milan Cortina d’Ampezzo.
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